IGP orders probe of police investment companies, subsidiaries

The Acting Inspector-General of Police, Mr. Ibrahim Idris, has ordered a probe of the investment companies and the subsidiaries owned by the force.
Already, the IGP has engaged the services of two professional audit firms to undertake the audit of the various police investments and subsidiaries.
The police investment bodies and subsidiaries to be audited include NPF Pensions, NPF Mortgage Bank, NPF Cooperative Limited, NPF HMO, NPF Insurance and NPF Property Development Company.
Idris disclosed the planned audit of the business arm of the force while addressing the Board and Management of the police investment bodies and subsidiaries at the Police Headquarters in Abuja.
The IGP said that the probe, “is in line with the Federal Government’s agenda to institutionalize fiscal discipline, transparency, probity and accountability in the management of public funds.”
He added that the exercise was aimed at carrying out due diligence to ascertain the true financial position, assets and liabilities, challenges and recommendations on how to restructure and reposition the police business subsidiaries “for effective and efficient services, profitability and return of investment to shareholders and Nigeria Police Community at large.’
According to the police boss, fighting corruption at all levels was part of his vision for the force in line with the cardinal programmes of the current administration.
Idris disclosed that the Force Management Team has appointed the audit firms of Messers Nsebot William & Co and Gbenga Abimbola & Co to carry out the special assignment, which would be completed in six weeks.
He also directed the board and management of the investment bodies and subsidiaries to cooperate with the auditing firms assigned to the respective outfits by allowing them access and offering them other assistance to ensure a smooth and successful audit exercise.